U.S., Taiwan TIFA talks back on track

Tuesday, March 12, 2013

U.S. government trade negotiators said meetings this week of the U.S.-Taiwan Trade and Investment Framework Agreement (TIFA) Council produced tangible results.
The meetings, held under the auspices of the American Institute in Taiwan (AIT) and Taipei Economic and Cultural Representative Office (TECRO), included the development of new joint statements on investment principles and information and communication technology (ICT) services, and the launch of new TIFA working groups on investment and technical barriers to trade.
The United States welcomed Taiwan’s agreement to conduct bilateral technical exchanges to facilitate the establishment of science-based maximum residue levels for pesticides to enable Taiwan to "enjoy the benefits of new, safer and more environmentally-friendly products," the Office of the U.S. Trade Representative said.
“The resumption of TIFA talks between Taiwan and the United States represents a new stage in our economic relationship that will more fully open the lines of communication on trade and investment,” said Deputy United States Trade Representative Demetrios Marantis, in a statement.
Marantis also welcomed Taiwan’s progress in generating momentum in other areas, such as the recent passage of amendments to the Trade Secret Act to increase deterrent penalties for trade secret misappropriation and the rolling out of a two-year pilot program to help create a more stable market for medicines in Taiwan’s health care system. In addition, he requested that Taiwan’s food safety measures – including those relating to meat exports – be based on science and consistent with international standards.
Lastly, the two sides agreed on the importance of accelerating negotiations to expand the Information Technology Agreement and continuing cooperation on an International Services Agreement.